In order to cover lost revenue and manage burdensome administrative procedures, hospitals are turning to AI.
FREMONT, CA: The healthcare system is evolving massively. In 2020, people saw hospitals and healthcare systems aiming to fulfill more demands than ever before, with many developments accelerating in areas such as AI to address the constraints of obsolete, inefficient back-end technology. Olive's AI workforce has been an essential part of the technology system used in 42 U.S. states by more than 675 hospitals. In 2021, Olive will launch new technologies to enhance interoperability in hospitals, health systems, and payers, providing AI cybernetics and deep learning to assist people in their tireless efforts.
Building an Internet of Healthcare
For about 18 percent of the U.S., healthcare accounts for GDP, but it lags more in terms of digital transformation than the other sectors. Connecting disparate, siloed technology networks throughout the industry is not only groundbreaking but a vital issue of public health. With the idea of building a "Internet of Healthcare," CEO Sean Lane developed Olive, where the multitude of disjointed back-end systems will talk to each other and create a better patient and provider experience. Today, the AI workforce of Olive is driving over $100 million in repeatable, ongoing hospital efficiencies, including 20 percent of the top 100 U.S. health systems.
"When I was at my hometown hospital, one thing became abundantly clear: healthcare didn't have the Internet," said Lane. "Patient experiences I've witnessed for myself and my family opened my eyes to how many processes could be done better in healthcare, and to me, there was one true solution: build an Internet of Healthcare. Connect all of healthcare's disparate technology to fix a broken system. That's the idea that started Olive and is core to our vision of building the Internet of Healthcare, revealing life-changing outcomes."
"We're excited to partner with Olive to deploy their AI workforce across our health system, so our team can focus less on data entry and more on patient care," said Paul McDowell, CFO of The Queen's Health Systems. "By eliminating repetitive, low value tasks, Olive enables our team members to work on higher value, more rewarding assignments. Our work with Olive will enable us to streamline costs and achieve greater efficiency in a time of great challenge and uncertainty."
Innovation, Entering New Markets in 2021
In 2020, the organization announced plans for Olive Helps, an AI-powered sidekick who works with healthcare workers by delivering real-time information to boost their work's efficiency, speed, and effectiveness.